2018 Annual Report

Key Financial Information

(Million pesos at December 31 of each year*)

GSanborns 2016 2017 2018 Var%  
Income          
Total Sales 47,594 49,768 51,755 4.0%  
Retail Sales 44,411 46,159 47,961 3.9%  
Credit Income 3,183 3,609 3,794 5.1%  
Gross Profit 18,922 19,724 20,125 2.0%  
Operating Income 6,620 5,158 4,796 -7.0%  
Operating Margin 13.9% 10.4% 9.3% -1.1 pp
EBITDA 6,474 6,332 5,971 -5.7%  
EBITDA Margin 13.6% 12.7% 11.5% -1.2 pp
Controlling Participation in Net Income 4,466 3,958 3,535 -10.7%  
Net Margin 9.4% 8.0% 6.8% -1.2 pp
Balance          
Total Assets 45,185 47,888 50,382 5.2%  
Total Liabilities 14,234 15,368 16,589 7.9%  
Consolidated Stockholders’ Equity 30,952 32,520 33,793 3.9%  
Capital Expenditures (CapEx) 2,905 1,584 1,418 -10.4%  
Total Debt 0 0 0 0  
Net Debt -1,714 -1,925 -2,478 28.7%  
Net Debt/EBITDA -0.26 -0.30 -0.41 36.5%  
CapEx/Sales 6.1% 3.2% 2.7% -0.5 pp
Credit          
Credit Portfolio 12,009 12,891 12,920 0.2%  
% Non-Performing Loans 2.8% 4.3% 4.4% 0.1 pp
Credit Cards issued 3,672,865 3,941,514 4,156,035 5.4%  
Other indicators          
Total Area (Sq meters) 1,186,230 1,207,060 1,235,822 2.4%  
Compounded Average number of outstanding Shares (thousand) 2,304,320 2,296,548 2,264,891 -1.4%  
Earnings per Share** 1.94 1.74 1.56 -10.1%  
Closing year stock price*** 21.69 19.60 17.70 -9.7%  

* Except outstanding shares, earnings per share and number of credit cards.
** Controlling Participation in Net Income divided by the compounded average number of outstanding shares.
*** Started quoting in the MSE on February 8th, 2013.
pp: Variation in percentage points.
EBITDA: Income before income taxes plus depreciation and amortization, interest expense, impairment of machinery and equipment and exploration expenses, and effect on valuation of derivative financial instruments, less interest income, net foreign exchange gain, surplus from appraisals of shopping centers and equity in earnings of associated companies and joint ventures. Review EBITDA conciliation in Note 26 of the Financial Statements.